Public officials across the globe reacted with swift condemnation and calls for reform following ICIJ’s investigation into secret tax deals between Luxembourg and hundreds of international corporations. The New York Times said the revelations have sparked a “rising furor” in Europe. Reuters called the reaction a “tax storm.” Response has been especially intense in Brussels, where…
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US Expatriation Continues to Increase At a Record Pace in 2014!
We previously posted US Expatriation Increase At a Record Pace in 2014! where we discussed that the number of Americans renouncing U.S. citizenship stayed near an all-time high in the first half of the year before rules that make it harder to hide assets from tax authorities came into force (FATCA - Effective Date July 1, 2014). …
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DoJ Indicts Another Swiss Banker on Heels of 2 Recent Acquittals.
On November 3, 2014, we posted Ex-UBS Exec & Ex-Mizrahi Banker Found Not Guilty In Tax Evasion Trials!where we discussed that jurors in federal court in Fort Lauderdale, Florida, found former UBS AG executive Raoul Weil not guilty of conspiracy to defraud the United States for his alleged role in helping nearly 20,000 U.S. clients…
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Israel Announces that it Will Adopt the OECD Procedure for the Automatic Exchange of Financial Account Information
On November 3, 2014 we posted, Panama Re-Examining the OECD's Automatic Exchange of Information! where we discussed that during the annual meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes that was held in Berlin on October 28 and 29, 2014, 51 jurisdictions signed the Multilateral Competent Authority Agreement on…
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